TRADE FALLS AWAY

Sun (Auckland), Volume IV, Issue 982, 27 May 1930, Page 9

TRADE FALLS AWAY

TARIFF WALLS REDUCE U.S.A. EXPORTS THIRTY-THREE NATIONS PROTEST

United P.A.—By Telegraph—Copyright Reed. 9.5 cum. WASHINGTON, Mon. United States exports are falling - at the rate of £240,000,000 annually, judged by the returns for the first quarter of this year. The Argentine, for instance, bought £ 12,000,000 worth of goods in the first quarter of last year and only £7,000,000 worth this year. Thirty-three nations are« protesting against Uncle Sam’s new tariff law, and reprisals have been put into effect by Australia, Canada, France and Cuba, while others are to follow. CO-OPERATION ESSENTIAL FENTON URGES TRADE UNITY

Reed. 10.10 a.m. VANCOUVER, Mon. If the parts of the British Commonwealth did not go forward together in a united trade policy, which would benefit them mutually, the individual units would be forced to co-operate commercially with other countries, the Australian Minister of Trade and Customs, Mr. J. E. Fenton, said today, in addressing the Canadian Club. He made an appeal for better trade relations between Canada and Australia, with particular reference to the tact that Australia has a shortened trade balance. Mr. Fenton promised he would endeavour to persuade the Premier, Mr. J. El. Scullin, to visit Canada en route home from the London Conference in the autumn. AUSTRALIA’S POLICY Mr. Fenton declared Australia aimed at trade within the Empire as much as possible. Canada, with Australia, possessed half the area of the Empire, but the disparity in trade in favour of Canada was too great. At the Naval Conference all the Dominions had worked together harmoniously. Why not in trade? Through the opposite seasons, many commodities could be successfully exchanged. Australia would concentrate on Empire trade at the Imperial Conference, and other Dominions must co-operate. “My Government’s policy is to trade within the Empire,” lie added. The Naval Conference, he went on, was not ended, but had merely adjourned until the people determined that wars must end.